- XPeng Inc (NYSE: XPEV) reported second-quarter FY22 sales growth of 97.7% year-on-year, to RMB7.44 billion ($1.11 billion), beating the consensus of $1.06 billion.
- Quarterly vehicle deliveries increased 98% Y/Y to 34,422.
- P7 smart sports sedan deliveries rose 39% to 15,983, and P5 smart family sedan deliveries were 12,848.
- The gross margin for the quarter contracted 100 basis points to 10.9%. Vehicle margin contracted 190 basis points to 9.1%, mainly attributable to the battery cost increase.
- The operating loss for the quarter was RMB(2.09) billion or $(312.1) million versus a loss of RMB(1.44) billion last year.
- The company held $6.2 billion in cash and equivalents as of June 30, 2022.
- The net loss was RMB(2.7) billion or $(403.2) million. Non-GAAP net loss per ADS was RMB(2.88) or $(0.43) for the second quarter of 2022.
- "We are on track for the official launch of our flagship G9 SUV in September 2022," said Chairman and CEO He Xiaopeng.
- Total deliveries reached 11,524 vehicles in July 2022, representing a 43% increase year-over-year.
- Outlook: XPeng sees Q3 vehicle deliveries of 29,000 – 31,000.
- The company expects Q3 revenue of RMB6.8 billion - RMB7.2 billion, representing a Y/Y increase of 18.9% - 25.9%.
- Price Action: XPEV shares are trading lower by 3.81% at $20.20 in premarket on the last check Tuesday.
- Photo Via Company
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